One of the bloggers (Sodhi) had this to say of his real life experiences. I am giving you all a real example with figures for Delhi. Rest is all up to you to decide. In last year Sep 2007 I contacted a broker in Dwarka (Delhi) for a 3BHK flat. He was quoting a price of 52 lacks. I told that max I can afford is 40L; he was laughing and said that within a month I will sell the property for 55L or more. Anyway I left the office with his number and exchanged mine in the hope that if he has any other property matching my range he will revert back.
Drama Starts now: I got the call from broker in Apr 2008 saying that he can manage the rates up to 45L for the same flat. But it will have to be immediate sale, and I will have to keep the rates secret. I declined :-)
Got the call in Aug 2008 for the same flat from broker that we can negotiate for 42L. I refused and told him that now I am not looking for anything more than 35L. Additionally my friend is also interested in the same range. Broker barked something " AAP KO FLAT LENA HI NAI HAI"(you don't want to buy the flat) and banged the phone.
Latest update: 4 days ago Got the call from same broker, he is ready to sign the deal for 37L now for the same flat if both of us buy right now. I have asked him to give me more time. Looks like I should wait for 22L to 25L range. Seems very feasible in the current market scenario. It’s been more than a year and that flat is still unsold and
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